Cambridge-based RFID specialist, PervasID, has raised £3.25 million in a funding round led by Parkwalk Advisors, with support from the Finance Durham Fund and NPIF II Maven Equity Finance.
PervasID focuses on creating advanced RFID (radio frequency identification) systems that streamline inventory tracking and asset management processes. The company’s technology uses passive RFID fixed reader systems to help businesses manage and locate goods, assets, and people in real-time. Their solutions are particularly valuable for industries such as retail, aerospace, healthcare, and manufacturing, where efficient stock and asset visibility is critical.
The newly raised funds will be used to:
- Expand the company’s customer base, particularly in response to growing demand from large global customers in retail and aerospace.
- Enhance their software offerings, including the development of advanced data analytics capabilities that complement their existing hardware solutions.
Led by CEO Peter Oram, PervasID is already working with global businesses to implement RFID solutions that provide real-time inventory visibility across multi-country infrastructures. The funding is set to accelerate their ability to deliver innovative technology to both new and existing markets.